News & Opinions
We delve into the risks of accessing your retirement savings early under the new Two-Pot Retirement System. While the rules may allow it, withdrawing from your retirement fund can have serious, long-term consequences, not even mentioning the extra tax you will pay on withdrawals. Do not jeopardise your retirement just because you are now “allowed” to.
You would have heard in the media recently that the Two pot retirement system has been signed into legislation effective 1 September of this year.
We explain in simple terms what this means for you and what your choices are going forward. Our advice to clients around retirement funds has always been to discourage any form of pre-retirement withdrawal as this very negatively impacts the outcome in retirement. In this article we discuss the reasons why this legislation has come about, how it impacts you and that ultimately our advice (to NOT make pre retirement withdrawals unless all other avenues have been exhausted) remains the same.
Healthy people die unexpectedly all the time and often they leave complicated and incomplete administration for their heartbroken families to untangle. There are a few simple checks and steps to ensure that you make life as easy as possible for your loved ones should tragedy strike. If you have any assets at all in your name, if you are married and, most especially, if you have children, take a few minutes to read how to avoid adding hassle to their heartbreak.
“What does money really mean for me and my family?” By posing some good questions initially, we shift the thought process from the money itself to giving your money meaning. This results in better investment outcomes and overall long-term financial wellbeing
Waking up on the first day of your retirement with nothing planned may seem like bliss. But after a while, the novelty wears off. It is then that many retirees hit a slump and start questioning their purpose and value as individuals. In the third and final article in our Retirement Readiness series, we explore the question Have you got enough to do?
Yet another investment scam has hit the South African news headlines. Thousands of investors will lose money after entrusting funds to BHI Trust, which was essentially a fraudulent Ponzi scheme. The BHI Trust allegedly raked in almost R3bn, and only around R4m has been tracked down. Veritas Wealth, a regulated and licensed financial advisory business, reflects on its role in keeping its clients’ funds safe.
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